Russia's car giant plans another rise in prices

Russia's leading car producer AvtoVAZ is going to raise prices for carsagain, this time starting on August 30, 2002, the AvtoVAZ press centerreported to RBC. A rise in prices for AvtoVAZ cars will take place for thefifth time this year and it will concern almost all car models. This risewill make up from 1,000 to 3,000 rubles (about $31.67-95). In other words,AvtoVAZ cars will become 1.2 percent more expensive, on average. Inaddition, the car giant plans a rise in prices for its VAZ-2120 minivan by10,000 rubles (about $316.7).The decision to raise prices for AvtoVAZ products was made according to theprice plan for 2002, passed by the company's authorities at the beginningof this year. According to this plan, a total increase in prices will reach11-12 percent this year. Prices have already been raised 8 percent againstJanuary 2002..